§120.920. Required participation by the Third Party Lender. — Inbound Citations

(3) A Third Party Loan comprising the balance of the financing, collateralized by a first lien on the Project property (see § 120.920).

(a) Any benefit flowing to a CDC's Associate or his or her employer from activities as an Associate must be merely incidental (this requirement does not prevent an Associate or an Associate's employer from providing interim financing as described in § 120.890 or Third Party Loans as described in § 120.920, as long as such activity does not violate § 120.140); and